Luxury cars may not be as enjoyable as people think

Jul 29, 2011

University of Michigan researchers suggest owning a luxury car, like a BMW or Lexus, is not as enjoyable as people think. Norbert Schwarz is with Michigan’s Ross School of Business.  Schwarz says most people appreciate a luxury car when they are driving for pleasure.

"A luxury car is indeed more pleasant than an economy car, but most of the time it really makes no difference whatsoever except for these very very rare episodes when you take your car for a fun drive and you really attend to your car, which is less than 2% of your driving."

Schwarz says consumers who are test driving a car should consider how often they will drive the car only for pleasure.  

-Traci Currie - Michigan Radio Newsroom